Section 3(1) in Andhra Pradesh Escheats and Bona Vacantia Rules, 1975
(1)For disposal of the property which has been declared as escheat or bona vacantia under sub-section (2) of Section 8 or Sub-Section (2) of Section 11 of the Act, the following procedure shall be followed:(a)If the property is movable property, the Local Officer shall sell the property in public auction after issuing notice of sale.(b)The notice of sale shall be given wide publicity by affixation of the notice in the village Chavidi or in a conspicuous place of the village; in the absence of village chavidi and in the Notice Boards in the Offices of the Collector and the Tahsildar, and by a beat of tom-tom in the Village.(c)The notice of sale of movable property shall specify the description of the property to be sold, the approximate value of the property, and the place, day and the hour of the sale.(d)No sale shall take place until after the expiration of a period of fifteen days from the publication of sale notice.(e)Where the value of the movable property does not exceed two thousand rupees the Local Officer shall knock down the sale in favour of the highest bidder. The highest bidder shall pay the sale amount in cash immediately after the sale is knocked down in his favour.(f)Where the value of the movable property exceeds two thousand rupees the highest bidder shall deposit 15% of the sale amount to the officer conducting the sale at the time of the sale and pay the remaining 85% of the sale amount within thirty days; the 15% of the sale amount already deposited shall be liable for forfeiture, if the 85% of the sale amount is not paid within thirty days.(g)Where the auction purchaser refuses or omits to deposit 15% of sale amount or to complete payment of the remaining 85% of the sale money, the property shall be resold at the expense and hazard of such purchaser and the loss arising as well as expenses incurred on the resale shall be recoverable from such purchaser in the same manner as arrears of land revenue.(h)After expiry of thirty days from the date of sale, the authority who was empowered to dispose of an escheat under sub-section (1) of Section 6 of the Act shall make an order confirming the sale provided that if he shall have a reason to think that the sale ought to be set aside on the ground of any mistake or fraud or material irregularity in publishing or conducting the sale, he may, after recording his reason set aside the sale.(i)Whenever the sale is not confirmed or is set aside the deposit or the purchase money as the case may be shall be returned to the purchaser.(j)After the confirmation of the sale, the Local Officer shall cause the delivery of the property to the highest bidder.
